Seven in 10 Texas community college students report experiencing financial difficulties or challenges while in college, with nearly one-quarter indicating they woundn’t be able to get $500 in cash or credit if faced with an emergency, according to results from a new survey.
Consulting firm Trellis Strategies last fall surveyed nearly 12,000 students from 35 Texas community colleges about their financial security, perceptions of institutional support, basic needs security, mental health challenges and more. The results emphasized how two-year college students continue to face financial pressures that could prompt them to leave college in the face of unexpected expenses–and how emergency aid from colleges can keep them on track. (Nine percent of respondents said they had received emergency aid from their school during 2023.)
The survey found that a majority of respondents reported running out of money at least once since the beginning of the year, with increases in inflation adding pressures to their monthly expenses. About 57% of participating Texas community college students said they worry about being able to pay their current monthly expenses.
About one in five students (21%) indicated that they didn’t know how they would pay for college the next semester, which was less than three months away at the time of the survey.
Opining about their colleges
About one-third (31%) of those who experienced financial challenges while enrolled didn’t think that their college was aware of their situation. And one-third of students had not spoken with anyone at their institution about their financial struggles, the survey found. But 63% did agree that their college has the support services to help address their financial situation.
The survey also shows that student parents comprise nearly one-third (31%) of students participating in the study, with 34% of these students spending more than 40 hours a week providing care for their dependents. Almost a quarter (23%) of those who worked while enrolled said they missed at least one day of classes due to conflicts with their job.
Financial pressures also affect students in the classroom. Nearly half (48%) who said they faced financial challenges while in college indicated that they had difficulty concentrating on schoolwork because of their financial situation.
The survey also asked students about:
- Food insecurity — 29% said they were hungry but didn’t eat.
- Housing — 29% reported troubles paying rent and 34% said they had difficulty paying their gas or electric bill)
- Transportation — 21% indicated their car was only somewhat reliable), as well as their overall well-being.
